'Six figures-worth of talent for £1'

There’s much to be aware of when offered a horse at a knock-down price, but in the right hands sometimes the gamble pays off. Martha Terry meets some who have found their diamond in the rough

THERE are very few things you can buy for £1 nowadays – outside Poundland. Not even a first-class stamp, a cup of tea or a plastic pony. However, some lucky riders have managed to acquire a real, live horse for just a quid. And not just any horse – top eventing thoroughbred Phelps was bought as a four-year-old “for a dollar”. Six years on, he finished fifth at the 2023 Maryland CCI5*, winning $20,000 (£15,760). Perhaps the old adage of not looking a gift horse in the mouth is a proverb to be ignored.

Phelps’ rider Mia Farley is based with the O’Connors in Virginia. Event director Joanie Morris sent Phelps – who had been in training but was unraced – to David O’Connor as a sales horse. David paid Joanie a dollar for him, with the plan for her to have a cut when he was sold. Except he never was.

“He was always for sale, but he managed to stick around; he’s the barn mascot now,” says Mia. “He has an exceptional brain; he’s cool-minded and keeps jumping higher every time we move up the levels. He’s one of the few horses I never feel nervous on because he knows exactly where his feet are and I fully trust he’ll take care of me.”